DrDovetail

Today's Candle is Stuck Between the t line and the 200 SMA

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BITFINEX:BTCUSD   Bitcoin
If you take a look at this zoomed in picture i65.tinypic.com/ehyl9z.png you will see that today's candle has been repeatedly bouncing up off of the 200 day simple moving average (purple) using it as a support line and also the T line(yellow) seems to be retaining its role from yesterday as the resistance line. Hopefulyl one of these bounces off of the 200SMA will give it enough momentum to close above the tline for the first time in 13 days. Now that the range has tightened it usually results in a big momentum boost one way or the other....hopefully that boost is upward.
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